A Boston-based private equity firm has bought a majority stake in Ridgeland's Bomgar Corp., a rare example of a homegrown company that's become a global leader in its field after little over a decade in existence.
Terms of the deal between TA Associates and Bomgar, including the amount TA is investing and its percentage of ownership, weren't released. But each company says Bomgar, which provides software-based, remote tech-support solutions to more than 8,000 clients in 65 countries, will remain headquartered in Ridgeland, its home since launching in 2003. It boasts annual revenue of $50 million.
"Those were conversations we had early in the dialogue," said company founder, CEO and namesake Joel Bomgar. "We've been able to build a real talent base here. We've built a culture of 'How can we compete with Fortune 500 companies (in our field)?' And we're winning in the marketplace."
Bomgar will step down as CEO and become the company's chairman of the board. He will be replaced in overseeing day-to-day operations by Matt Dircks, a veteran of the software industry who's stepping into the role from outside the company. Read more.